Core Insights - The fourth-quarter 2023 earnings season is beginning, with a general deceleration in earnings outlook and negative revisions across several sectors [1][2] - Despite the overall decline, certain stocks are highlighted as having a high chance of surprising positively during the earnings season, including Meta Platforms, Deckers Outdoor, Netflix, Atmos Energy, and CME Group [1] Earnings Trends - Total S&P 500 earnings are projected to decrease by 0.2% year-over-year, despite a 2.3% increase in revenues [2] - This follows a 3.8% earnings growth in Q3 2023, with estimates dropping from an initial projection of 5.5% growth in early October [2] - Eight out of 16 Zacks sectors are expected to show earnings growth, with Technology leading at 18.8% growth [2] Stock Selection Methodology - Stocks with a positive Earnings ESP and a favorable Zacks Rank (1, 2, or 3) are likely to outperform, with a historical earnings surprise rate of 70% [3][4] - The methodology focuses on recent analyst revisions to capture potential earnings surprises [3] Company Highlights Meta Platforms - Meta has an Earnings ESP of +4.58% and a Zacks Rank of 2, with a consensus estimate of $4.79, indicating a growth of 59.7% [5] - The company has delivered an average earnings surprise of 27.50% over the last four quarters and is set to report on February 7 [5] Deckers Outdoor - Deckers has an Earnings ESP of +4.88% and a Zacks Rank of 2, with a positive earnings estimate revision of 19 cents, indicating a growth of 5.4% [6][7] - The company has an average earnings surprise of 26.32% in the past four quarters and will report earnings on February 1 [7] Netflix - Netflix has an Earnings ESP of +5.75% and a Zacks Rank of 2, with a recent positive earnings estimate revision of one cent, indicating an expected growth rate of over 1700% [8] - The company has delivered a negative earnings surprise of 12.16% on average over the last four quarters and is scheduled to report on January 23 [8] Atmos Energy - Atmos Energy has an Earnings ESP of +1.98% and a Zacks Rank of 2, with an upward earnings estimate revision of 4 cents, indicating a growth rate of 9.95% [9] - The company has an average earnings surprise of 1.10% over the last four quarters and will report earnings on February 6 [9] CME Group - CME Group has an Earnings ESP of +4.49% and a Zacks Rank of 2, with a positive earnings estimate revision of 3 cents, indicating a growth rate of 14.58% [10] - The company has delivered an average earnings surprise of 2.73% over the last four quarters and is set to report on February 14 [10]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-10042 Atmos Energy Corporation (Exact name of registrant as specified in its charter) Texas and Virginia 75-1743247 ...

Financial Data and Key Metrics Changes - The company reported earnings per share of $6.10 for fiscal '23, marking an 8.9% increase from fiscal '22 and the 21st consecutive year of earnings per share growth [4][13] - Consolidated operating and maintenance (O&M) expenses increased by $55 million to $765 million, primarily due to higher service orders and increased headcount [14] - Capital spending for fiscal '23 was over $2.8 billion, a 15% increase from the previous fiscal year, with 85% dedicated to improving safety and reliability [14] Business Line Data and Key Metrics Changes - The company added nearly 61,000 new customers in fiscal '23, with over 46,000 located in Texas [7] - Industrial demand remained strong, with the addition of 55 new industrial customers expected to contribute approximately 19 billion cubic feet (Bcf) of annual load [8] - Customer satisfaction remained high, with a 98% satisfaction rating reported [10] Market Data and Key Metrics Changes - Texas continued to experience record employment, adding nearly 436,000 jobs from September 2022 to September 2023, contributing to the company's customer growth [7] - The Dallas-Fort Worth Metroplex is projected to add over 674,000 people by 2028, indicating strong market growth potential [7] Company Strategy and Development Direction - The company focuses on system modernization through disciplined capital spending and timely recovery of costs via regulatory mechanisms [15] - A capital spending plan of approximately $17 billion over the next five years is anticipated to support rate base growth of about 11% to 13% per year [16] - The company aims for 6% to 8% annual growth in earnings per share and dividends per share [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the execution of their strategy, which supports continued modernization and economic development in service territories [20] - The company anticipates becoming a material federal cash taxpayer within the next three years due to the Inflation Reduction Act [17] - The effective tax rate is expected to rise to 22% to 23% in the near future, with recoverability strategies being developed [45] Other Important Information - The company completed $1.6 billion in long-term financing and ended the fiscal year with an equity capitalization of 61.5% [14] - The company has hedged 50% of its winter supply needs at a weighted average cost of $3.31 [24] - The company is on track to complete significant pipeline projects, enhancing supply diversity and supporting growth [9][22] Q&A Session Summary Question: Future equity issuances and capital plan - Management remains confident in using the ATM program to fund equity needs, considering the current liquidity in the market [27] Question: APT settlement impact on guidance - The current settlement outcome has been reflected in the guidance provided [28] Question: Target equity capitalization - The company is comfortable maintaining an equity capitalization in the range of 50% to 60% [31] Question: O&M trends and outlook - Management is confident in the projected O&M range of $780 million to $800 million for fiscal '24, despite some moderation in costs [33] Question: Long-term O&M guidance - The long-term O&M guidance has been nudged up slightly due to compliance costs and inflation considerations [35] Question: Becoming a cash taxpayer - The company anticipates becoming a cash taxpayer due to the expiration of NOL shields and the corporate minimum tax [39] Question: Effective tax rate expectations - The effective tax rate is expected to increase to 22% to 23% in the near future, with recoverability strategies being developed [45] Question: O&M seasonality - O&M management is conducted on a full fiscal year basis, making it difficult to predict seasonality [54]

Analyst Call to Review Fiscal 2023 Financial Results & Fiscal 2024 – 2028 Outlook November 9, 2023 10:00 a.m. Eastern Fiscal 2023 Review ...

Analyst Call to Review Fiscal 2023 Third Quarter Financial Results August 3, 2023 10:00 a.m. Eastern Fiscal Q3 2023 Review ...

Atmos Energy Corporation (NYSE:ATO) Q3 2023 Earnings Conference Call August 3, 2023 10:00 AM ET Company Participants Daniel Meziere - VP of IR & Treasurer Chris Forsythe - SVP & CFO Kevin Akers - President & CEO Conference Call Participants Richard Sunderland - JPMorgan Ryan Levine - Citi Operator Ladies and gentlemen, thank you for standing by. My name is Aaron, and I will be your conference operator for today. At this time, I would like to welcome everyone to the Atmos Energy Corporation Fiscal Third Qua ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | |----------------------------------------------------------------------------|---------------------------------------| | | | | Commission File ...

Atmos Energy Corporation (NYSE:ATO) Q2 2023 Results Conference Call May 4, 2023 10:00 AM ET Company Participants Daniel Meziere - VP of IR & Treasurer John Akers - CEO, President & Director Chris Forsythe - Senior VP & CFO Conference Call Participants Julian Dumoulin-Smith - Bank of America Operator Ladies and gentlemen, thank you for standing by, and welcome to the Atmos Energy Corporation Fiscal 2023 Second Quarter Earnings Conference Call. I would now like to turn the call over to Dan Meziere Vice Presi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | |----------------------------------------------------------------------------|---------------------------------------| | | | | Commission Fil ...

Atmos Energy Corporation (NYSE:ATO) Q1 2023 Results Conference Call February 8, 2023 9:00 AM ET Company Participants Dan Meziere - Vice President of Investor Relations and Treasurer Kevin Akers - President and Chief Executive Officer Chris Forsythe - Senior Vice President and Chief Financial Officer Conference Call Participants Nick Campanella - Credit Suisse David Arcaro - Morgan Stanley Gabe Moreen - Mizuho Securities Richard Sunderland - JPMorgan Ryan Levine - Citigroup Operator Good morning, ladies and ...